Real Time e-mini S&P Trading, plus contrarian commentary on all the markets, all the time

Monday, December 16, 2013

Guesstimates on December 16, 2013

March S&P E-mini Futures: Today’s range estimate for the March 2014
contract is 1771-1786. A close below 1765 would be very bearish. Unless and
until that happens I will be looking for new bull market highs ahead.

QQQ:Support is at 80. Upside
target is 88.

TNX (ten year note yield): I think the market will move to 3.50%
over the next few months.

Euro-US Dollar: As long as the Euro holds support at
1.3400 I will stick with my view that it is headed for 1.40-1.42.

Dollar-Yen: The dollar-yen is headed for 107.00.

January Crude: I
think crude is headed back to 86 and possibly lower than that.

February Gold: The
market is headed to 1030.

March Silver: The market is now headed for 13.00.

Google: Upside target is
now 1150 and support beneath the market stands at 970.

Apple:AAPL
has been stalling at the 565 resistance level. Should it be breached the next
upside target will be 600.

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About Me

I write three financial blogs. The first is Carl Futia.On this blog I post daily "guestimates" of the current trends and trend potential in important markets. Once a week I post an explanation of my views on one of these markets with illustrative charts.
My second blog, Carl Futia Real Time, is subscription based. It is a real time trading seminar in which members receive my real time analysis of the E-mini S&P futures and can watch me trade them. In this seminar I explain how I calculate support and resistance levels and how I recognize market "rejections" of support or resistance which then determine the current trend directions.
My third blog is called The Art of Contrarian Trading and is based on my book of the same title. On that blog I focus less on day-to-day market details and more on swings in investor sentiment, the "information cascades" which I talk about in my book.